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False Alarm

Demand for housing could be cooling off after it was announced yesterday that the Immigrant Investor Program, which is a cash for visa deal, was scratched by BC's finance minister when presenting the budget for 2014. This means that the estimated 50,000 immigrants who had applied for the program basically had their applications thrown in the garbage. Experts are predicting housing prices will start to dwindle since the condo developers can no longer rely on their number one customer – the wealthy Chinese investor. [Vancity Buzz]